Bangladesh is set to purchase liquefied natural gas (LNG) from Excelerate Gas Marketing Ltd Partnership, a subsidiary of Excelerate Energy, under a 15-year contract beginning in 2026. The deal was approved by the cabinet committee on purchase, and it includes an expansion of the capacity of the floating storage and regasification unit (FSRU) in Moheshkhali, which will be capable of regasifying 600 million cubic feet of gas per day (mmcfd). Excelerate will supply around 0.85 million tonnes of LNG annually in 2026 and 2027, increasing to 1 million tonnes from 2028 to 2040. The pricing formula is set at 13.35% of the Brent crude oil price on the day, plus $0.30 per million British thermal unit, making the LNG cost around $12 per MMbtu based on the current Brent crude price.
Additionally, Bangladesh has approved the purchase of 33.60 lakh MMbtu of LNG from the international spot market, with Vitol Asia Pte Ltd of Singapore as the supplier. The country is also expanding its LNG imports from Qatar and Oman under long-term contracts and has signed deals to import an additional 3 million tonnes of LNG from both countries in 2026. Furthermore, the government approved two solar power plants in Jamalpur and Munshiganj, as well as the purchase of electric poles for distribution in the Khulna region.
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